Hyderabad-based Gemini Edibles & Fats files for Rs 2,500-cr IPO

Between FY19 and FY21, GEFIL revenue from operations has grown at a CAGR of 19.6 per cent and gross profit margin has almost doubled.

Hyderabad: Hyderabad-headquartered Gemini Edibles & Fats India Limited (GEFIL), which owns Freedom brand, has filed for Rs 2,500-crore IPO (initial public offering) with the market regulator.

GEFIL is engaged in the manufacturing, distribution and branding of edible oils and specialty fats in India. It operates across the edible oil and fats value chain- from importing crude edible oil to processing, packaging and distribution of its products that are sold under three verticals — branded retail consumer- sunflower oil, rice bran oil, mustard oil, palm kernel oil, palmolein oil; industrial consumer — high stability frying oils, palm oils, cocoa butter substitutes, interesterified vegetable fats and bulk merchandising — palmolein, sunflower and soyabean oils.

---

Between FY19 and FY21, its revenue from operations has grown at a CAGR of 19.6 per cent and gross profit margin has almost doubled. Besides tapping into multiple offline and online channels for retail sales, the company intends to expand presence across Tamil Nadu, Kerala and foray into the northern and eastern states of India such as Chhattisgarh, Jharkhand, Uttar Pradesh and West Bengal over a span of five years.

As of June 30, 2021, the company had a network of over 30 depots, 1,100 distributors and wholesalers, having a retail reach to approximately 640 towns in Telangana, Andhra Pradesh, Odisha and Karnataka.

The packaged edible oil segment is forecasted to grow at a CAGR of 7 per cent for the period from Fiscal 2020 to Fiscal 2025. The Indian specialty fats and oils segment which caters to industries such as bakeries, biscuit, confectionery and snack foods is estimated to be growing at a CAGR of 8 per cent per annum.

Investment Bankers appointed to the issue are Axis Capital, Credit Suisse Securities (India), Kotak Mahindra Capital and Nomura Financial Advisory and Securities (India).